The decision to buy a house depends on your personal circumstances and financial goals. There are many factors to consider, such as your current financial situation, your long-term goals, and your lifestyle preferences.
One of the advantages of buying a house is the potential for long-term financial stability and equity. Over time, a house can appreciate in value, allowing you to build wealth and secure your financial future. Additionally, owning a house can provide a sense of stability and pride of ownership, as well as the ability to customize and personalize your living space.
However, buying a house also comes with certain risks and responsibilities, such as the need to maintain and repair the property, pay property taxes and insurance, and potentially deal with unexpected expenses or market fluctuations.
Ultimately, the decision to buy a house should be based on your own personal goals and financial situation. It's important to carefully weigh the pros and cons, and to work with a trusted real estate agent and financial advisor to help you make an informed decision.
You own the property (with the bank) and as you pay off the mortgage the house will appreciate in value and eventually you will own it. It is a considerable asset.
You can deduct mortgage interest and up to 10000 dollars in property taxes on your federal income tax.
If somebody comes into your yard that you don't like you ca nrun them off.
Well, they say it's wise to keep your money safe through properties because the value increases. Buying a house maybe expensive but you'll get a huge sum of money back if you sell it after a decade. My dad built this bunglow we're living in currently. Houses and bungalows are suitable for people with a job which doesn't requires them to shift frequently.
Real estate is too expensive, maybe it will come back down and you can buy and sell it when the price goes up again
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8Opinion
Both have their advantages and disadvantages. It's really something you just have to decide for yourself. Strictly from a financial point of view, it's probably better to buy.
You already mentioned some advantages to renting. It's less hassle. When something goes wrong, just call the management and let them deal with it. That way you come home from work and kick back, instead of facing a long list of stuff that needs done to the house.
As a home owner, I sometimes feel like it's a prison. It's a heck of a lot harder to move if I want to. Even going on a longer vacation requires a lot more planning and arrangements.
I like owning a house now. But when I was young it was not a good option. I needed more freedom when I was young. Being tied to one place just wasn't appealing to me back then.
I always figured buying the house was somewhat like paying yourself to live there as you get the value in any returns if you sell it.
If renting, the money goes to someone else.
In regards to "Through rent, you get free maintenance repairs", I don't think they're free you pay towards them monthly. If you have no repairs, the property owner pockets it.
Besides, I would rather shovel my lot etc., than pay someone else to take care of that.
Certainly is , but country dependent , in Australia its utterly vital , miss now , miss forever , I own two of them , here in Thailand , I'd only buy because I loved the property , lifestyle , the prices don't change much in Thailand , nor do they in many parts of USA.
Land scarcity value is the key.
It depends if the house is an asset or a liability. If it's your primary residence, it's a liability. If you rent that house out then it's an asset.
Assets are good. Liabilities are bad.
I have three houses that I own and the rent out. In addition to the tenants paying for my mortgages, it also puts nearly $3000 a month into my pocket. Which speaks nothing about my increased ability to borrow money.
But for the most parts when homes go up so does rent. My daughter can’t quite come up with a 80,000 dollars for a down payment, so she is stuck with having to pay 1,700 a month rent. Do the math at least with owning a home you get part sometimes more of the rent back.
When you rent you get no equity in the property and no property or mortgage write off. That can be fine if your rent is less than the mortgage, taxes, and upkeep AND your investments are returning more than the increase in equity and write offs would be.
In my situation, I inherited my house and it is locked into the assessment from when my grandfather bought it. Because of this, the property taxes, etc. are far less than rent would be for a place 1/5 the size.
It's worth it. When you rent you are paying another person's mortgage. Worst case scenario you sell the house at a loss if you can't pay the mortgage
I don't know what it is like where you live, but here it is much cheaper to pay off a house than it is rent.
If you own, you’re not losing money to another person.
I own & am happy. But if I had the $$$$$$ to throw around I would just as soon rent & not have to worry about upkeep & maintenance.
u You can never sell an apartment you can sell a house and quadruple your price
Of course not, better invest into a business or open your own.
right now, no.
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